S $2.00 D $1.50 $1.00 20 27 28 30 35 Millions of Gallons of Milk Per Week Refer to the above diagram for the milk market. If the price were $1.50 per gallon, then there would be Price (per gallon)
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- 12LGjjfiV9KIUa7A14QC7gvvPrKFtW6ZwP60WrVE/edit AP 100% PRICE Dolars perp Answer Price ($) 10. Using the graph below, determine the equilibrium price and quantity of pens. 0000 5000- 3000 2000- Normal text Answer: RUBRIC Worksheet 2 Scenario 11. Using the graph below, determine the approximate equilibrium price and quantity of soap. Supety 3 QUANTITY ons of pens) Demand Curve Arial Supply Curve Cartoon P Quantity Supplied Price determination AND PRICE 11 Demand + B I UA AFive fact about gasoline price.A D1 Quantity (per day) Suppose the demand curve shifts to the right and the supply curve shifts to the Right by more than the demand curve. The new demand curve will be upward sloping v and the new supply curve will be downward sloping v
- Refer to the figure and table to answer the following questions: Price (dollars per ounce) 0.50 0.45 0.40 0.35 0.30 2 0.25 0.20 0.15 0.10 0.05 ABCDEFG с H J A B с Point H to | = D E F G Price (per Ounce) $0.50 0.45 0.40 0.35 0.30 0.25 0.20 0.15 0.10 0.05 H 0 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 Quantity Demanded (ounces per show) 21 Quantity Demanded (Ounces per Show) 1 2 4 6 9 12 16 20 25 30 Instructions: In part a, round your responses to one decimal place. In part b, round your responses to two decimal places. a. Compute the price elasticity between points C and D and points H and I. Point C to D = b. Compute the total revenue at points C, D, H, and I. At point C = $ At point D = $ At point H = $ At point I = $ c. If there is a price decrease, total revenue will increase when demand is (Click to select)aw The graph below shows the domestic supply of and demand for mangos in India. 18 16 Price ($) 14 12 10 2 200 400 600 800 1000 1200 Quantity of mangos (cases) 1400 1600 D$4.50 4.00 S 3.50 3.00 2.50 2.00 1.50 1.00 D 0.50 1 2 4 6 7 8 9 10 11 12 13 15 Quantity (thousands of dozens per month) At a price of $1.50 per dozen, how many bagels are demanded per month? Price per dozen bagels 14
- What effect does a per-gallon tax on gasoline have on the market for gasoline? Who pays for the increase in tax?Price 5500,000 400,000 300,000 200,000 100,000 2.000 4.000 6.000 8.000 10.000 Quantity jacres) If the local govemment decides to establish a price of $200,000 per acre there will be a (choose between shortage or surplus and type in the space provided)2. only
- $2.00 7. $1.50 eBook $1.00 20 27 28 30 Millions of Gallons of Milk Per Week 35 Refer to the above diagram for the milk market. There would be equilibrium whenever the price is Multiple Choice $1.50 per gallon. less than $1.50 per gallon. more than $2.00 per gallon. less than $1.00 per gallon. Mc Graw Hill Price (per gallon)The following table shows the demand and supply of tickets of a football game which will be held at Shah Alam Stadium. Unit Price (RM) Market Demand (units) Market Supply (units) 20 5000 3500 40 4000 3500 60 3000 3500 80 2000 3500 100 1000 3500 a) On your foolscap paper, draw the demand and supply curves. Label all axes, all curves and the equilibrium point. (6m) b) How much is the equilibrium price and equilibrium quantity? (2m) c) At which price will there be a surplus of 2500 tickets? (1m) d) What will happen when the market price is RM40? Show your answer on the same diagram. (3m) e) Why is the supply of tickets fixed at 3500? (1m)How will the government alter the demand for or supply of computer chips to solve the problem?